Economic Concepts in Continuous Quality Improvement

Scenario: Apply economic concepts to the design of qualityimprovement plans for a healthcare facility.

Youhave been asked to develop a new quality improvement program to address costcontainment in your facility. Preparea memo to the Board of Directors that proposes cost containmentprojects that reduce facility costs as well as improve quality. 

Rubric:

1.      Balancing Qualityand Cost Containment

a.      Provide adescription of the importance of balancing quality improvement efforts withcost containment with three specificrationals.

2.      Cost-ContainmentApplication

a.      Select acost-containment strategy application with threesteps (reducing overhead, outsourcing services, etc.).

b.      Describe how theidentified strategies can be applied within a specific area within the facility(pharmacy, laboratory, etc.).

3.      Potential AdverseRamifications

a.      Discuss two waysthe cost-containment strategy could negatively impact quality.

b.      Provide specificexamples of possible adverse ramifications.

Requirements:

550 words; APA Format (7^th edition)
Times New Roman; Font size 12; Double space
Title page; Reference page
Reference all sources; Quotingshould be less than 10% of the entire paper

Please use sources below, as applicable:

Spath, P., &Kelly, D. L. (2017). Applying Quality Management in Healthcare: A SystemsApproach: Vol. Fourth edition. Health Administration. Press Chapter 7 (PDFattached)

Mitton, C., &Dionne, F. (2020). Priority setting and resource allocation in the US healthsystem: Is there a place for hard caps? Journal of Health Organization andManagement, 34(4), 379-384. (PDF attached)

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